Universal Truckload Services on Thursday, Oct. 26, announced financial results for the 13 and 39 weeks ended Sept. 30.
For the 13-week period, operating revenues increased 26.7%, or $36.3 million, to $171.9 million from $135.6 million for the 13 weeks ended Oct. 1. Included in operating revenues are fuel surcharges of $17.8 million and $9.4 million for the third quarters of 2006 and 2005, respectively. Net income increased 24.1%, or $1.1 million, to $5.8 million, from $4.6 million for the third quarter of 2005.
For the 39 weeks ended Sept. 30, operating revenues increased 24.4%, or $93.7 million, to $477.8 million from $384.1 million for the 39 weeks ended Oct. 1, 2005. Included in operating revenues are fuel surcharges of $45.4 million and $22.5 million for the first three quarters of 2006 and 2005, respectively. Net income increased 25.7%, or $3.2 million, to $15.7 million from $12.5 million through the third quarter of 2005.
Universal’s truckload revenue in the third quarter of 2006 increased by 18.2% to $99.5 million from $84.2 million in the corresponding period of 2005. Included in truckload revenue is $8.1 million contributed by the company’s Noble and Pitts acquisition on July 10. Truckload revenue in the first three quarters of 2006 increased by 18.7% to $282.7 million from $238.2 million in the corresponding period of 2005.
“We are pleased with our financial performance through the third quarter of 2006,” said Don Cochran, president and chief executive officer of Warren, Mich.-based Universal Truckload. “Our acquisitions and internal growth continue to provide positive revenue and profitability results.”
